Bitcoin at all time high

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Originally Posted by adamantium

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Originally Posted by SrslySirius

Then again... if MtGox manages to not completely destroy this thing, and reliable exchanges start putting a dent in their market share, maybe there's a small ray of hope for bitcoin yet.

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Really? really?

Some pimplefaced geek invented some viritual coins and you are crying for a nasdaqish reliable place to trade them? yea thats gonna happen.
Also do you really think governments will/would do nothing about this currency suited for criminal activties?

coins are doomed one way or the other

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Why do certain people just attack SrslySirius if he says even the slightest thing that can be construed as a positive comment about Bitcoins?

You act like he's a big proponent of these things when he clearly is not. He's just not all hate all the time for no other reason than to hate Micon. Fucking get over it.
All he's saying is a reliable exchanges to compete with MtGox would be a good thing if they have any chance to survive.

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Originally Posted by SrslySirius

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Originally Posted by adamantium

Really? really?

Some pimplefaced geek invented some viritual coins and you are crying for a nasdaqish reliable place to trade them? yea thats gonna happen.
Also do you really think governments will/would do nothing about this currency suited for criminal activties?

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I know English isn't your native language, so I'll forgive you for completely misinterpreting what I said.

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Sorry I thought you wrote there might be a small ray of hope for bitcoins

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Originally Posted by Hockey Guy

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Originally Posted by adamantium

Really? really?

Some pimplefaced geek invented some viritual coins and you are crying for a nasdaqish reliable place to trade them? yea thats gonna happen.
Also do you really think governments will/would do nothing about this currency suited for criminal activties?

coins are doomed one way or the other

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Why do certain people just attack SrslySirius if he says even the slightest thing that can be construed as a positive comment about Bitcoins?

You act like he's a big proponent of these things when he clearly is not. He's just not all hate all the time for no other reason than to hate Micon. Fucking get over it.
All he's saying is a reliable exchanges to compete with MtGox would be a good thing if they have any chance to survive.

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So are you saying I replied because of who wrote it and not what was written? I have nothing against SRSLY, hes my boy.

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Originally Posted by adamantium

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Originally Posted by SrslySirius

I know English isn't your native language, so I'll forgive you for completely misinterpreting what I said.

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Sorry I thought you wrote there might be a small ray of hope for bitcoins

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Sure. There might be, if those things I mentioned happen. I don't exactly pin all my hopes and dreams on it happening. I own 2.8 BTC that I paid like 10 bucks for. It makes almost no difference to me.

And small ray of hope doesn't mean high chance of long-term prosperity. It could absolutely get crushed by government intervention eventually.

Also cheers fellas TGIF
adamantium, cmoney, Crowe Diddly, Deal, Edward Teach, FrenchJew, mackerdoodle jones, Shooz, sonatine, SrslySirius

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Originally Posted by SrslySirius

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Originally Posted by adamantium

Sorry I thought you wrote there might be a small ray of hope for bitcoins

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Sure. There might be, if those things I mentioned happen. I don't exactly pin all my hopes and dreams on it happening. I own 2.8 BTC that I paid like 10 bucks for. It makes almost no difference to me.

And small ray of hope doesn't mean high chance of long-term prosperity. It could absolutely get crushed by government intervention eventually.

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Back up the truck on long term prosperity being 0%

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Originally Posted by adamantium

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Originally Posted by SrslySirius

Sure. There might be, if those things I mentioned happen. I don't exactly pin all my hopes and dreams on it happening. I own 2.8 BTC that I paid like 10 bucks for. It makes almost no difference to me.

And small ray of hope doesn't mean high chance of long-term prosperity. It could absolutely get crushed by government intervention eventually.

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Back up the truck on long term prosperity being 0%

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"Small ray of hope" allows for short-term prosperity too.

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Originally Posted by DJ_Chaps

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Originally Posted by DJ_Chaps

Is there anywhere I can watch a LVL II for this to see order flow?

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Google is my friend.


http://bitcoin.clarkmoody.com/

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jesus. someone is stuck trying to sell 1750 bitcoins at $74 each. just wow.

528 coins sold in one lot. The big bids are getting hit.

Halted? can't connect to market data stream.

http://bitcoinity.org/markets

deffo not halted.

BTC-E, a major bitcoin currency exchange site, is facing accusations from hundreds of its own users and the bitcoin community in general that they have simply started clearing out and folding up accounts and hijacking buy/sell requests, ostensibly in an effort to wipe out records of sales/purchases that took place during the boom and to avoid the debts they could not possibly cover from the grossly inflated BC value.

People are speculating that the (internally?) orchestrated collapse of BTC-E may have instigated the collapse/sell-off across all currency changes.








Oh and:


Domain name: BTC-E.COM
Name Server: brad.ns.cloudflare.com
Name Server: gail.ns.cloudflare.com
Creation Date: 2011.06.17
Updated Date: 2013.02.14
Expiration Date: 2013.06.17

Status: DELEGATED

Registrant ID: YLNB25U-RU
Registrant Name: Svetleichi Dmitri
Registrant Organization: Svetleichi Dmitri
Registrant Street1: 13a, Sobachkina str.
Registrant City: Pushkino
Registrant Postal Code: 854785
Registrant Country: RU
Contact Phone: +7 495 1234567
Contact E-mail: paxumbt@gmail.com

Administrative, Technical Contact
Contact ID: TQ48P0A-RU
Contact Name: Semenov, Igor
Contact Organization: BTC-E.com
Contact Street1: 13a, Sobachkina str.
Contact City: Pushkino
Contact State: Moscow region
Contact Postal Code: 123456
Contact Country: RU
Contact Phone: +7 495 1234560
Contact E-mail: support@btc-e.com

Registrar: Regional Network Information Center, JSC dba RU-CENTER

But Im sure thats just a coincidence.




http://i.imgur.com/LjsgZxn.jpg

I feel we have been rolled by Bryan Micon!!! You think Justin Wade Smith could be behind all of this??

http://www.youtube.com/watch?v=OdpuTMY6yMU


http://www.youtube.com/watch?v=UlWrmIqGs3Y

http://www.youtube.com/watch?v=ncXTV6NkofM

question for cmoney...

when you predicted the btc crash, was that just the wormhole talking, or did you have some porn/eastern euro/deepweb/bitcoin, inside info?

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Originally Posted by sonatine

Worst.

AMA.

Ever.

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Morgan Freeman AMA amirite?

In conclusion bitcoins are the same as online poker.

Mt Gox = Lock Poker
bicoin-24 = Ultimatebet
Bots = bots
Russian rampers / derampers = Russian freeroll whores

Even if you win you might not get paid.

It looks as though Bitcoins has simply turned into some type of gambling / daytrading mechanism. The whole concept of this being a legit currency is pretty stupid. With this dropping and gaining 40% a day sometimes, no merchant could ever sell a legitimate product as cmoney stated. In addition, it is clear this is being manipulated to the point the unregulated premise is rearing its ugly head.

I find it bizarre people take at face value there are only 11M of these in circulation. Says who? Some random ghost on the internet? This shit has Mafia written all over it. It already looks as a long planned orchestrated scheme. There is no reason for bicoins to exist other than for shady shit.

I really don't see the action play with these things. If you are looking for action on a daily basis, open up a stock account and daytrade OTC and penny stocks. There are plenty of cases of a OTC going from a quarter to $4 in a day if you are looking to gamble.

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Originally Posted by The_PHA

I find it bizarre people take at face value there are only 11M of these in circulation. Says who? Some random ghost on the internet? This shit has Mafia written all over it. It already looks as a long planned orchestrated scheme. There is no reason for bicoins to exist other than for shady shit.

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Its a theoretical ceiling of 21M unique bitcoin hashes iirc and I believe that ceiling is the product of a mathematical limitation in the hash generation algorithm, but someone mathy is going to have to yay or nay that definitively.

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Originally Posted by sonatine

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Originally Posted by The_PHA

I find it bizarre people take at face value there are only 11M of these in circulation. Says who? Some random ghost on the internet? This shit has Mafia written all over it. It already looks as a long planned orchestrated scheme. There is no reason for bicoins to exist other than for shady shit.

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Its a theoretical ceiling of 21M unique bitcoin hashes iirc and I believe that ceiling is the product of a mathematical limitation in the hash generation algorithm, but someone mathy is going to have to yay or nay that definitively.

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Regardless, to your point, if a majority of the accounts are from places like Romania, I want no part of this. Eventually people are simply not going to get paid because the spreads are too severe.

DHS will have to get involved, this has laundering written all over it, especially if they see trades from North Korea, Iran, etc... They can easily crush this by forbidding banks from accepting deposits from these web transfer portals.

Like I said, you can easily get this type of action with penny stocks and you know you will get paid. If you got a money truck on these, PAY YOUR 30%, because I guarantee the IRS has already flagged transfers like this.

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Originally Posted by The_PHA

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Originally Posted by sonatine

Its a theoretical ceiling of 21M unique bitcoin hashes iirc and I believe that ceiling is the product of a mathematical limitation in the hash generation algorithm, but someone mathy is going to have to yay or nay that definitively.

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Regardless, to your point, if a majority of the accounts are from places like Romania, I want no part of this. Eventually people are simply not going to get paid because the spreads are too severe.

DHS will have to get involved, this has laundering written all over it, especially if they see trades from North Korea, Iran, etc... They can easily crush this by forbidding banks from accepting deposits from these web transfer portals.

Like I said, you can easily get this type of action with penny stocks and you know you will get paid. If you got a money truck on these, PAY YOUR 30%, because I guarantee the IRS has already flagged transfers like this.

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Oh no question, I was just addressing the 'potentially infinite bitcoins' theory.

But really thats a minor concern. Anyone in the fucking world can open a bitcoin currency exchange site and hijack transactions or cash with zero point zero chance of being penalized. All you have to determine whether or not a site is legit is consumer reputation and review. And what BTC-E did was sit back, rake in their transaction fees, wait for the market to peak, then cash out a bunch of their clients bitcoins. AND PEOPLE ARE STILL EXECUTING TRADES ON THEM RIGHT NOW.

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Originally Posted by sonatine

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Originally Posted by The_PHA

I find it bizarre people take at face value there are only 11M of these in circulation. Says who? Some random ghost on the internet? This shit has Mafia written all over it. It already looks as a long planned orchestrated scheme. There is no reason for bicoins to exist other than for shady shit.

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Its a theoretical ceiling of 21M unique bitcoin hashes iirc and I believe that ceiling is the product of a mathematical limitation in the hash generation algorithm, but someone mathy is going to have to yay or nay that definitively.

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You are correct on the 21 million limitation. They can always modify the algorithm which is part of what bothers me. Each bitcoin is basically an algorithm generated by another algorithm. I do a lot of that for work, the problem is the original algorithm can be changed and generate "new" more expensive bitcoins. Kind of like making different dinominations where their shouldn't be. I've looked into it quite a bit, and its very intriguing but I don't see how you secure it or stop it from over complicating itself.

thats extremely interesting... i wish i knew enough about crypto to understand how a modified algorithm can generate both the current hashs and hashs that extend beyond the 21m boundary without being able to be disqualified mathematically..

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Originally Posted by sonatine

thats extremely interesting... i wish i knew enough about crypto to understand how a modified algorithm can generate both the current hashs and hashs that extend beyond the 21m boundary without being able to be disqualified mathematically..

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What's really fascinating, is that a few wizards put this whole scheme together, and got so many to buy into it.

Guess it will always have value, especially on the black market, but the whole creation is amazing.

What are BTC at now, and how do I follow them? Is it a stock?

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Originally Posted by JUSTIFIEDhomicide

What are BTC at now, and how do I follow them? Is it a stock?

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Last price:$94.97921
High:$124.11298
Low:$85.50000

Weighted Avg:$107.11319

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Originally Posted by JUSTIFIEDhomicide

What are BTC at now, and how do I follow them? Is it a stock?

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Just google it Weiss.

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Originally Posted by Beebs9Dizzle

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Originally Posted by JUSTIFIEDhomicide

What are BTC at now, and how do I follow them? Is it a stock?

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Last price:$94.97921
High:$124.11298
Low:$85.50000

Weighted Avg:$107.11319

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http://i39.photobucket.com/albums/e1.../popcorn-1.gif

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Originally Posted by sonatine

thats extremely interesting... i wish i knew enough about crypto to understand how a modified algorithm can generate both the current hashs and hashs that extend beyond the 21m boundary without being able to be disqualified mathematically..

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Exceptions. That's the simple explanation. Also not all bitcoins have been mined.

Micon's Future Account Balance...-$126,699.00

CNBC is now talking about Bitcoins, this is usually the time when the shit hits the fan...SELL,SELL,SELL!!!

Mt. Gox and other Bitcoin exchanges have been repeatedly suffering from DDOS attacks.

Bitcoin is NOT a currency, it's just a virtual collectable that will soon be completely worthless.



:lol2

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Originally Posted by El Gallo

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Originally Posted by sonatine

thats extremely interesting... i wish i knew enough about crypto to understand how a modified algorithm can generate both the current hashs and hashs that extend beyond the 21m boundary without being able to be disqualified mathematically..

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Exceptions. That's the simple explanation. Also not all bitcoins have been mined.

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i totally get that there are tons of bitcoins yet to be mined, but crypto really is a weak point for me. i dont get how the alg that generates 21m can be modified to support a larger number where either the initial hash batch retains validity or the secondary hash batch is valid according to the initial one, you know?

like if its anything like the physics behind hash collisions, its completely beyond the real of feasibility to obtain a significant amount of extra hashs...

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Originally Posted by TheXFactor

Micon's Future Account Balance...-$126,699.00

CNBC is now talking about Bitcoins, this is usually the time when the shit hits the fan...SELL,SELL,SELL!!!

Mt. Gox and other Bitcoin exchanges have been repeatedly suffering from DDOS attacks.

Bitcoin is NOT a currency, it's just a virtual collectable that will soon be completely worthless.

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you're about 4 days too late, which doesn't really surprise me

just saw a bitcoin article on my local news site and thought i better check in for some cliffs

did micon blow up huge like in 06?
:howmuch

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Originally Posted by sonatine

i totally get that there are tons of bitcoins yet to be mined, but crypto really is a weak point for me. i dont get how the alg that generates 21m can be modified to support a larger number where either the initial hash batch retains validity or the secondary hash batch is valid according to the initial one, you know?

like if its anything like the physics behind hash collisions, its completely beyond the real of feasibility to obtain a significant amount of extra hashs...

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It is a hard ceiling. Similar to how there are only 100 whole numbers that can be represented with 2 digits in the decimal scale. No nerd can change that ceiling.

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Originally Posted by phantom

just saw a bitcoin article on my local news site and thought i better check in for some cliffs

did micon blow up huge like in 06?
:howmuch

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More importantly, cliffs on Martha's titties?

I've read a few bitcoin forums, and what tilts the fuck out of me is people comparing this fucking scam to gold. Gold is a precious metal that has been around since the beginning to time. People have been collecting it, fighting over it and making things out of it since man stood upright. Gold has tremendous value.

Shitcoins is nothing more that some algorithm. It has no value.

But you know what the stark difference between gold and bitcoins are? If you have a bitcoin and your hard-drive crashes, the bitcoin is gone. Period. Once gold is mined, it will never go away. It is in the economy forever.

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Originally Posted by Deal

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Originally Posted by sonatine

i totally get that there are tons of bitcoins yet to be mined, but crypto really is a weak point for me. i dont get how the alg that generates 21m can be modified to support a larger number where either the initial hash batch retains validity or the secondary hash batch is valid according to the initial one, you know?

like if its anything like the physics behind hash collisions, its completely beyond the real of feasibility to obtain a significant amount of extra hashs...

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It is a hard ceiling. Similar to how there are only 100 whole numbers that can be represented with 2 digits in the decimal scale. No nerd can change that ceiling.

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This stops being accurate when you reach a certain level of mathematical complexity; a "hash collision" is where two diverse collection of values produce the same output, or for the purpose of bitcoin validation, ostensibly produce a bc hash that passes muster.

This is how the counterfeit Microsoft certificates were generated for Stuxnet, for example. Supposedly it took $80million worth of hardware running for some years to accomplish, plus a lot of crypto theory that was probably classified by the time it ended up on a whiteboard. But less complicated algorithms require significantly fewer computational resources to 'counterfeit' using collisions.

That said; if you or anyone else tells me this doesnt apply to bitcoins, Im in no position to assume you arent right.

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Originally Posted by sonatine

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Originally Posted by Deal

It is a hard ceiling. Similar to how there are only 100 whole numbers that can be represented with 2 digits in the decimal scale. No nerd can change that ceiling.

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This stops being accurate when you reach a certain level of mathematical complexity; a "hash collision" is where two diverse collection of values produce the same output, or for the purpose of bitcoin validation, ostensibly produce a bc hash that passes muster.

This is how the counterfeit Microsoft certificates were generated for Stuxnet, for example. Supposedly it took $80million worth of hardware running for some years to accomplish, plus a lot of crypto theory that was probably classified by the time it ended up on a whiteboard. But less complicated algorithms require significantly fewer computational resources to 'counterfeit' using collisions.

That said; if you or anyone else tells me this doesnt apply to bitcoins, Im in no position to assume you arent right.

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I see your point. You are not questioning the ceiling of unique bitcoins, that is a mathematical certainty, but if there is a theoretical way to counterfeit a bitcoin. I can't say with certainty. We can assume that they best criminal minds are working hard on the problem though.

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Originally Posted by Deal

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Originally Posted by sonatine

This stops being accurate when you reach a certain level of mathematical complexity; a "hash collision" is where two diverse collection of values produce the same output, or for the purpose of bitcoin validation, ostensibly produce a bc hash that passes muster.

This is how the counterfeit Microsoft certificates were generated for Stuxnet, for example. Supposedly it took $80million worth of hardware running for some years to accomplish, plus a lot of crypto theory that was probably classified by the time it ended up on a whiteboard. But less complicated algorithms require significantly fewer computational resources to 'counterfeit' using collisions.

That said; if you or anyone else tells me this doesnt apply to bitcoins, Im in no position to assume you arent right.

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I see your point. You are not questioning the ceiling of unique bitcoins, that is a mathematical certainty, but if there is a theoretical way to counterfeit a bitcoin. I can't say with certainty. We can assume that they best criminal minds are working hard on the problem though.

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LOL.

Exactly, and there is no governing agency to prevent it either. The irony is the unregulated economy bitcoiners brag about will be the reason they eventually lose a lot of money.

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Originally Posted by Baron Von Strucker

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Originally Posted by phantom

just saw a bitcoin article on my local news site and thought i better check in for some cliffs

did micon blow up huge like in 06?
:howmuch

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More importantly, cliffs on Martha's titties?

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Surprisingly, the Baron has raised an excellent question.

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Originally Posted by Deal

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Originally Posted by sonatine

This stops being accurate when you reach a certain level of mathematical complexity; a "hash collision" is where two diverse collection of values produce the same output, or for the purpose of bitcoin validation, ostensibly produce a bc hash that passes muster.

This is how the counterfeit Microsoft certificates were generated for Stuxnet, for example. Supposedly it took $80million worth of hardware running for some years to accomplish, plus a lot of crypto theory that was probably classified by the time it ended up on a whiteboard. But less complicated algorithms require significantly fewer computational resources to 'counterfeit' using collisions.

That said; if you or anyone else tells me this doesnt apply to bitcoins, Im in no position to assume you arent right.

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I see your point. You are not questioning the ceiling of unique bitcoins, that is a mathematical certainty, but if there is a theoretical way to counterfeit a bitcoin. I can't say with certainty. We can assume that they best criminal minds are working hard on the problem though.

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The argument could be made that the best criminal minds have migrated to the shorter path between two points and simply set up bitcoin exchange sites.